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Annoyed and unsatisfied with the services provided by banks, a

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Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 31 Aug 2015, 05:40
1
6
00:00
A
B
C
D
E

Difficulty:

  55% (hard)

Question Stats:

62% (02:06) correct 38% (02:00) wrong based on 281 sessions

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Annoyed and unsatisfied with the services provided by banks, a consumer single-handedly created a new banking system. The new system gained popularity rapidly, soon controlling a large portion of the market, and consequently leading to the bankruptcy of a few large banks. These cases of bankruptcy resulted in the unemployment of thousands of people. The government intervened, terminating all business related to the new banking system on the basis of the claim that it was the root of the unemployment, and a potential economic crisis. Nevertheless, in the interests of economic health, this forced closure of the new banking system should be revoked since __________.

Which of the following most logically completes the argument?

A) it was the incompetence and high fees charged by the banks that led to the development of the new system in the first place
B) the fact that many banks went bankrupt only shows that people are better off saving their hard-earned money in safes
C) mass unemployment results in a low purchasing power and, in turn, low income for industries, fueling additional unemployment
D) the methods formerly employed by the banks sapped the economy's foundations and left it vulnerable to radical changes in its monetary system
E) developers of new products or services must take into account the social and economic effect of their creations on the greater population

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Re: Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 01 Sep 2015, 04:37
I went with D and here are my reasons for the same:

We need some reason as to why the new banking system should be brought back.. Hence we need to pull down the "old banking system" somehow.

Only A and D do justice to that.

However, in A "incompetence and high fees" of banks is made the main culprit. In D, a flaw is found in the way the banks themselves worked that made it vulnerable to radical change in monetary system.

As per the conclusion, we need something to do with the economy..(in the interests of economic health).

Hence D makes more sense.

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Re: Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 02 Sep 2015, 00:59
Harley1980 wrote:
Annoyed and unsatisfied with the services provided by banks, a consumer single-handedly created a new banking system. The new system gained popularity rapidly, soon controlling a large portion of the market, and consequently leading to the bankruptcy of a few large banks. These cases of bankruptcy resulted in the unemployment of thousands of people. The government intervened, terminating all business related to the new banking system on the basis of the claim that it was the root of the unemployment, and a potential economic crisis. Nevertheless, in the interests of economic health, this forced closure of the new banking system should be revoked since __________.

Which of the following most logically completes the argument?

A) it was the incompetence and high fees charged by the banks that led to the development of the new system in the first place
B) the fact that many banks went bankrupt only shows that people are better off saving their hard-earned money in safes
C) mass unemployment results in a low purchasing power and, in turn, low income for industries, fueling additional unemployment
D) the methods formerly employed by the banks sapped the economy's foundations and left it vulnerable to radical changes in its monetary system
E) developers of new products or services must take into account the social and economic effect of their creations on the greater population


I am not happy with D on this. I think the answer should be C.
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Re: Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 02 Sep 2015, 03:44
KS15 wrote:
Harley1980 wrote:
Annoyed and unsatisfied with the services provided by banks, a consumer single-handedly created a new banking system. The new system gained popularity rapidly, soon controlling a large portion of the market, and consequently leading to the bankruptcy of a few large banks. These cases of bankruptcy resulted in the unemployment of thousands of people. The government intervened, terminating all business related to the new banking system on the basis of the claim that it was the root of the unemployment, and a potential economic crisis. Nevertheless, in the interests of economic health, this forced closure of the new banking system should be revoked since __________.

Which of the following most logically completes the argument?

A) it was the incompetence and high fees charged by the banks that led to the development of the new system in the first place
B) the fact that many banks went bankrupt only shows that people are better off saving their hard-earned money in safes
C) mass unemployment results in a low purchasing power and, in turn, low income for industries, fueling additional unemployment
D) the methods formerly employed by the banks sapped the economy's foundations and left it vulnerable to radical changes in its monetary system
E) developers of new products or services must take into account the social and economic effect of their creations on the greater population


I am not happy with D on this. I think the answer should be C.


Hello KS15
In this argument we have link between "interests of economic health" and "return of the new banking system"
So we should find answer that show to us why new system is good for economic health or why old banking system is bad for economic

C show us why new system is bad so this sentence can not complete this passage:
"For sake of economic health we should return new system because it results in mass unemployment which results in a low purchasing power and, in turn, low income for industries, fueling additional unemployment"
This is illogical phrase becaise if consequencies are so bad why we should return new system?

And D says that old bank system is bad for economy health because it undermine foundations. New system is too bad but only temporary because some people in old banking lost their jobs. The latter drawback is temporary and it is better than continious undermining of economy health by old banking system.
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Simple way to always control time during the quant part.
How to solve main idea questions without full understanding of RC.
660 (Q48, V33) - unpleasant surprise
740 (Q50, V40, IR3) - anti-debrief ;)

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Re: Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 26 Oct 2015, 02:08
I hardly get questions correct when they are posted by Harley and i got it right so surely i wil post .

The reason for D not A is that the arg says in the interest of economic health ; this makes D a suitable choice as former rules caused sapping the eco. Hence D
forms a better answer for me.
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Re: Annoyed and unsatisfied with the services provided by banks, a  [#permalink]

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New post 07 Apr 2018, 21:14
Why b is not correct? please explain Thanks in Advance!
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Re: Annoyed and unsatisfied with the services provided by banks, a &nbs [#permalink] 07 Apr 2018, 21:14
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